Globe profit shrinks 11% to P11 billion
Globe Telecom said it expects to return to growth in H2 after first-half profit fell 11% to PHP 11.04 billion. The company reported H1 revenue up 6% to PHP 92.66 billion, driven by mobile and broadband, with broadband subscribers up 32% to over 2 million. Expenses rose 6% to PHP 47.79 billion. Globe also noted Mynt’s planned Oct. 19 PSE listing for GCash and capacity plans for STT GDC Philippines.
How this was made
The 30-second read
Why it matters
The key trade question is whether 2H growth in core revenues and broadband subscriber gains can outpace expense and depreciation increases, supporting a profit rebound.
Market read
A quantified 1H earnings and operating trend plus a CFO-led 2H recovery narrative can move near-term positioning ahead of the next earnings cycle.
What to watch
The article notes reduced stake in GCash and a planned IPO of Mynt, which could shift valuation and earnings expectations for Globe’s fintech exposure.
Background
Globe Telecom is a Philippine telco expanding broadband and enterprise services while building infrastructure and managing capital intensity.
Ticker impact
Globe Telecom reports 1H profit down 11% to P11.04B but CFO says it expects a return to growth mode in 2H.
Moderate upside bias if investors believe 2H growth and cash-flow discipline will stabilize earnings; otherwise downside risk from rising depreciation and expense pressure.
The article provides quantified 1H profit, revenue, subscriber, and expense/depreciation trends plus a forward-looking CFO stance, but no new guidance numbers or market reaction.
Market effects
Highlights Philippine telco broadband subscriber growth and rising infrastructure depreciation, relevant to sector earnings sensitivity to capex intensity.
Could influence sentiment toward Philippine telecom and digital infrastructure plays as data center capacity ramps.
Limited direct global impact; mainly regional telecom and infrastructure investment narrative.
Counterpoint
Profit decline plus higher depreciation may indicate that 2H growth is not yet translating into earnings leverage, making the recovery narrative less credible.
Key entities
- companyGlobe Telecom Inc.
Philippine telco-to-tech operator reporting 1H profit decline and outlining a 2H recovery plan.
- executiveJuan Carlo Puno
Globe CFO commenting on 2H growth expectations and capital investment discipline.
- subsidiary/partnerST Telemedia Global Data Centers (STT GDC) Philippines
Data center builder tied to Globe’s portfolio, targeting at least 30MW systemwide capacity by year-end.
- companyMynt Inc.
GCash parent scheduled to list on the Philippine Stock Exchange on Oct. 19.
- companyMitsubishi Corp.
New investor in GCash referenced as part of the stake reduction context for Globe.
